Rise of the Chatbot: How AI is Revolutionizing Customer Service

Businesses usually embrace AI technology slowly. Not only did the chatbots break this trend, but they also bridged the gap between companies and customers in ways that no other AI platform has ever done. However, with the progress in IT and machine learning, do customer support agents risk being entirely replaced by chatbots?

Table of Content

The History of Chatbot

One Reach, a market research company, conducted a survey in 2014 about US customers’ attitudes regarding the use of text in customer service applications. According to the study, 64% of customers with the capacity to use texting over voice as a customer care channel, and 77% of consumers with the capabilities to use text between 18 and 34 years of age are likely to have a good view of a firm that offers text capability.

What are Chatbots?

A chatbot is an automated messenger service that can implement into a brand’s web or mobile app and social media applications for text-based interactions with consumers and answers various inquiries without the need for the natural person to sit on a service desk.

A highly advanced customer interaction program is a chatbot for the customer service industry, which can not only respond to the basic inquiries but is also configured to fulfill a wide range of functions, such as:

  • Recommending products and offers
  • Processing payments 
  • Carrying out surveys
  • Collecting data
  • Checking in for a flight
  • Booking doctor appointments
  • Laying out step-by-step product usage instructions, to name a few 

The chatbot is not a new concept, also known as a ‘virtual assistant.’ It is now only with the growth of automation technology that chatbot development companies are starting to explore their possibilities. It has become a must-have tool for today’s customer-based organization.

What are AI Chatbots?

An AI Chatbot Development backed-up to Artificial Intelligence simulates a conversation with a user utilizing Machine Learning Solutions and Natural Language Processing, combined with a present rule-based response. They are often seen as one of the most advanced examples of human-machine interaction, serving consumers in nearly all industry sectors.

Ways in Which a Chatbot Improves Customer Experience

1. Instant Response

A live chat agent always asks a client to be online several times and from his computer to collect the data. Chatbots never do because they are the system. The rapid resolution may be one of the main reasons why the word customer service” has become “customer experience.” This technology also avoids delays caused by human mistakes.

2. Always Available

They work 24/7 and never make consumers wait. It allows businesses to positively affect their clients, which in turn increases the possibility of growth. Before transferring a discussion to an agent, bots may resolve many problems with little response times. The ability of chatbots to learn and solve complicated issues is progressing, which means the dependence on human operators is continually reduced during the day.

3. Personalizing the Customer Experience

In addition to offering personalized suggestions and offers, chatbots may also initiate proactive client relations. Customers prefer to stay with a platform for more extended periods with higher involvement and bring more business.

4. Affordability

Implementing an innovative chatbot is way too cheap and faster than bringing on board a thousand employees. Organizations have already started saving from customer communication expenditures 30-40 percent of costs. On the market, there are several top IT companies offering ready-to-use and economical chatbot solutions that chatbot solutions can adjust to match nearly any domain when implemented, a self-learning bot that would handle hundreds of customers at once.

5. Integration with Other Platforms

Chatbots can function on the social media applications of third parties and make discussions more active and accessible, increasing customer participation and expenditure. Instead of abandoning their preferred platform, people are more inclined to answer a product recommendation from their regularly used social networking app.

Important: A reader can click here to know/read about the latest tech trends or our services

Blog: Technology Trends that will Shape Innovations in 2021/22 – Dash Technologies (dashtechinc.com)

How Chatbots Enhance Customer Experience Across Industries

  • Retail: Creating tailored shopping experience, provide consistent customer service (either online or in-store), and lower costs (cut down the shopping time).
  • E-Commerce: Product discovery, reviews, payments, in-chat purchases, and personalised recommendations.
  • Banking and Finance: Fraud detection, customer KYC, resolving queries, financial advice, 24×7 digital support, cross-sell financial products, credit applications, money transfer.
  • Manufacturing: Better engagement with vendors, automate mundane manufacturing tasks.
  • Travel: Vacation Planning, reservations, queries and complaints.
  • Legal: Matter Management, automate filings and notifications, 24×7 support, automating legal advice.
  • E-Commerce: Product discovery, reviews, payments, in-chat purchases, and personalised recommendations.
  • Manufacturing: Better engagement with vendors, automate mundane manufacturing tasks.
  • Travel: Vacation Planning, reservations, queries and complaints.
  • Legal: Matter Management, automate filings and notifications, 24×7 support, automating legal advice.
  • Media and Content Delivery: Rich content delivery, personalised stream, real-time stream, on-demand content, news delivery, run survey.

Future of AI Chatbot Technology

AI Chatbots have much potential. In the customer service and support sectors in especially. This sort of technology will always be in favour while there are data to be processed. Experts attempt to push the data treatment limit. You also test how long an AI Chatbot takes to process a certain quantity of data. There are many concepts that algorithms are developed to learn and make bots quicker.

Why Dash Technologies for AI Chatbot Development?

By strengthening your CRM by using AI technologies such as chatbots and other AI-enabled communication, your business will be raising its competition to an entirely new level. Intelligent systems are the focus of our chatbot developers. We can accelerate the service and support of our clients’ enterprises using AI Chatbots’ capability. Our innovation in system integration breakthroughs, speech recognition, language understanding, and a reasoning system create the best AI chatbot solution.

Are you also looking for chatbot development services? Choose Dash Technologies, a leading chatbot development company that offers you highly sophisticated chatbots per your specific business needs.

Inline Feedbacks
View all comments

Let's talk

If you want to get a free consultation without any obligations, fill in the form below and we'll get in touch with you.